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It's putting downward pressure on the economy. we have to remember, the franchise industry works on thin profit margins. >> let's get to the franchise issue. why do you think they are being treated unfairly in this? >> in seattle, the city council passed unanimously, 9-0 and the mayor subsequently signed that bill that would bring the minimum wage from the current $9.25 an hour, excuse me, $9.32 an hour in seattle up to $15 over seven years if you are a small business with under 500 employees. if you have over 500 employees, it takes you three years to get there. however, they lumped franchise...

Welcome back. sorry, michigan college students, but it looks like you're going to have to start eating a lot more ramen noodles. a recent signed minimum wage reform act is forcing colleges to make major cuts to student employment programs. it's going to raise michigan's current minimum wage to $9.25. the effect of all this, kayla bonham. caleb, thank you for joining us. >> thank you for having me. >> in michigan, they passed the minimum wage increase. it's going to increase wages from $7.40 to $8.15 in september and top out at $9.25 in 2018. what we're seeing at the leadership institute campus...

More than 9.25 years and i had to read it about three times over and over and over again before i finally got it. and it was really emotional. it was really an emotional moment, because after sitting in here for three years now and not knowing what's going to happen and believing that there was even potential for me to spend the rest of my life in prison and now that that is completely gone, knowing that i will have an actual second chance at life, you know, a chance to redeem myself. it's a huge relief. if something is unjust and unfair, you have to fight. unfortunately, so many guys come in ...

More than 9.25 years and i had to read it about three times over and over and over again before i finally got it. and it was really emotional. it was really an emotional moment, because after sitting in here for three years now and not knowing what's going to happen and believing that there was even potential for me to spend the rest of my life in prison and now that that is completely gone, knowing that i will have an actual second chance at life, you know, a chance to redeem myself. it's a huge relief. if something is unjust and unfair, you have to fight. unfortunately, so many guys come in ...

Seattle is going to $15. the state of washington is $9.32. michigan will be phased up to $9.25 over five years and some states are down at $7.25. what do we know from an economist standpoint about the effect it has when you can be at $15 or $7.25? >> it points towards the need to raise the minimum wage more broadly. $7.25 an hour has not kept up with the cost of living. states will see 27 states that will have the minimum wages above the federal level. cities like seattle are going higher. the high cost areas where even 9.32 is the highest in the country, but not enough to make ends meet. give...